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FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks

September 25, 2014

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks

Averages of daily figures

Wednesday
Sep 24, 2014

Week ended
Sep 24, 2014

Change from week ended

Sep 17, 2014

Sep 25, 2013

Reserve Bank credit

4,417,733

+   10,118

+  722,718

4,417,726

Securities held outright1

4,195,219

+    8,673

+  724,835

4,194,913

U.S. Treasury securities

2,447,066

+    3,368

+  390,282

2,448,625

Bills2

         0

         0

         0

         0

Notes and bonds, nominal2

2,332,304

+    3,379

+  376,056

2,333,867

Notes and bonds, inflation-indexed2

    98,188

         0

+   10,979

    98,188

Inflation compensation3

    16,574

-       10

+    3,247

    16,570

Federal agency debt securities2

    40,006

-    1,111

-   23,646

    40,006

Mortgage-backed securities4

1,708,147

+    6,416

+  358,198

1,706,282

Unamortized premiums on securities held outright5

   209,901

+      158

+    5,598

   209,711

Unamortized discounts on securities held outright5

   -18,685

-       42

-   11,999

   -18,705

Repurchase agreements6

         0

         0

         0

         0

Loans

       330

+       28

+       58

       331

Primary credit

        35

+       32

+       15

        31

Secondary credit

         0

         0

         0

         0

Seasonal credit

       263

-        2

+      112

       268

Term Asset-Backed Securities Loan Facility7

        32

-        2

-       69

        32

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Maiden Lane LLC8

     1,664

         0

+      168

     1,664

Net portfolio holdings of Maiden Lane II LLC9

         0

-       36

-       64

         0

Net portfolio holdings of Maiden Lane III LLC9

         0

-       12

-       22

         0

Net portfolio holdings of TALF LLC10

        44

         0

-       68

        44

Float

      -494

+      122

+       78

      -574

Central bank liquidity swaps11

        23

-       52

-      240

        23

Other Federal Reserve assets12

    29,731

+    1,280

+    4,374

    30,320

Foreign currency denominated assets13

    22,560

-      259

-    1,500

    22,500

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding14

    46,131

+       14

+      814

    46,131

Total factors supplying reserve funds

4,502,665

+    9,873

+  722,032

4,502,598

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks

Averages of daily figures

Wednesday
Sep 24, 2014

Week ended
Sep 24, 2014

Change from week ended

Sep 17, 2014

Sep 25, 2013

Currency in circulation14

1,288,293

-    1,051

+   83,795

1,289,158

Reverse repurchase agreements15

   270,542

+   19,731

+  170,808

   261,724

Foreign official and international accounts

   100,289

-       90

+    4,949

    99,407

Others

   170,254

+   19,823

+  165,859

   162,317

Treasury cash holdings

       164

         0

+       10

       159

Deposits with F.R. Banks, other than reserve balances

   147,430

+   57,841

+   15,063

   181,770

Term deposits held by depository institutions

         0

         0

-   11,662

         0

U.S. Treasury, General Account

   114,828

+   48,411

+   69,837

   118,905

Foreign official

     5,244

-        2

-    3,633

     5,243

Other16

    27,359

+    9,433

-   39,478

    57,623

Other liabilities and capital17

    63,656

-    1,232

-    1,621

    62,601

Total factors, other than reserve balances,
absorbing reserve funds

1,770,085

+   75,289

+  268,055

1,795,413

Reserve balances with Federal Reserve Banks

2,732,580

-   65,416

+  453,977

2,707,185

Note: Components may not sum to totals because of rounding.

1.

Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2.

Face value of the securities.

3.

Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4.

Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of
the securities.

5.

Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized.  For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis.  For mortgage-backed securities, amortization is on an effective-interest basis.

6.

Cash value of agreements.

7.

Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.

8.

Refer to table 4 and the note on consolidation accompanying table 7.

9.

Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Refer to the note on consolidation accompanying table 7.

10.

Refer to table 5 and the note on consolidation accompanying table 7.

11.

Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned
to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the
foreign central bank.

12.

Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.  Also, includes Reserve Bank premises and equipment net of allowances for depreciation.

13.

Revalued daily at current foreign currency exchange rates.

14.

Estimated.

15.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

16.

Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.

17.

Includes the liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5 and the note on consolidation accompanying table 7. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 6 and table 7.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.



1A. Memorandum Items

Millions of dollars

Memorandum item

Averages of daily figures

Wednesday
Sep 24, 2014

Week ended
Sep 24, 2014

Change from week ended

Sep 17, 2014

Sep 25, 2013

Securities held in custody for foreign official and international accounts

3,359,602

+   12,461

+   70,529

3,352,365

Marketable U.S. Treasury securities1

3,023,574

+    1,686

+   92,566

3,017,608

Federal agency debt and mortgage-backed securities2

   293,094

+   10,401

-   27,010

   291,797

Other securities3

    42,934

+      375

+    4,972

    42,960

Securities lent to dealers

    13,101

+    2,856

-    9,517

    12,668

Overnight facility4

    13,101

+    2,856

-    9,517

    12,668

U.S. Treasury securities

    12,318

+    2,800

-    9,503

    11,926

Federal agency debt securities

       783

+       55

-       14

       742

Note: Components may not sum to totals because of rounding.

1.

Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 6, and 7.

2.

Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities.

3.

Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4.

Face value. Fully collateralized by U.S. Treasury securities.


2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, September 24, 2014

Millions of dollars

Remaining Maturity

Within 15
days

16 days to
90 days

91 days to
1 year

Over 1 year
to 5 years

Over 5 year
to 10 years

Over 10
years

All

Loans

       296

        35

         0

         0

         0

...

       331

U.S. Treasury securities1

Holdings

         1

        89

     3,194

1,038,753

   746,893

   659,695

2,448,625

Weekly changes

         0

         0

         0

+    1,593

+      179

+      281

+    2,053

Federal agency debt securities2

Holdings

         0

     1,329

     3,584

    32,746

         0

     2,347

    40,006

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities3

Holdings

         0

         0

         0

        10

     4,797

1,701,475

1,706,282

Weekly changes

         0

         0

         0

         0

+       24

+    5,761

+    5,785

Asset-backed securities held by
TALF LLC4

         0

         0

         0

         0

         0

         0

         0

Repurchase agreements5

         0

         0

...

...

...

...

         0

Central bank liquidity swaps6

        23

         0

         0

         0

         0

         0

        23

Reverse repurchase agreements5

   261,724

         0

...

...

...

...

   261,724

Term deposits

         0

         0

         0

...

...

...

         0

Note: Components may not sum to totals because of rounding.
...Not applicable.

1.

Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the
original face value of such securities.

2.

Face value.

3.

Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

4.

Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.

5.

Cash value of agreements.

6.

Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to
the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign
central bank.


3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name

Wednesday

Sep 24, 2014

Mortgage-backed securities held outright1

1,706,282

Commitments to buy mortgage-backed securities2

    58,194

Commitments to sell mortgage-backed securities2

         0

Cash and cash equivalents3

        69

1.

Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

2.

Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.

3.

This amount is included in other Federal Reserve assets in table 1 and in other assets in table 6 and table 7.


4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Account name

Wednesday

Sep 24, 2014

Net portfolio holdings of Maiden Lane LLC1

     1,664

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2

         0

Accrued interest payable to the Federal Reserve Bank of New York2

         0

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3

         0

1.

Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of June 30, 2014. Any assets purchased after
this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

2.

Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 7.

3.

Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 6 and table 7.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.


5. Information on Principal Accounts of TALF LLC

Millions of dollars

Account name

Wednesday

Sep 24, 2014

Asset-backed securities holdings1

         0

Other investments, net

        44

Net portfolio holdings of TALF LLC

        44

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2

         0

Accrued interest payable to the Federal Reserve Bank of New York2

         0

Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable3

         0

1.

Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date.

2.

Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 7.

3.

Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 6 and table 7.

Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extended loans with a term of up to five years to holders of eligible asset-backed securities. The Federal Reserve closed the TALF for new loan extensions in 2010. The loans provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY.

TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Prior to January 15, 2013, the U.S. Treasury's Troubled Asset Relief Program (TARP) committed backup funding to TALF LLC, providing credit protection to the FRBNY. However, the accumulated fees and income collected through the TALF and held by TALF LLC now exceed the remaining amount of TALF loans outstanding. Accordingly, the TARP credit protection commitment has been terminated, and TALF LLC has begun to distribute excess proceeds to the Treasury and the FRBNY. Any remaining funds will be shared by the FRBNY and the U.S. Treasury.


6. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Sep 24, 2014

Change since

Wednesday

Wednesday

Sep 17, 2014

Sep 25, 2013

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

     5,200

         0

         0

Coin

     1,935

+        2

-       64

Securities, unamortized premiums and discounts, repurchase agreements, and loans

4,386,250

+    7,863

+  721,161

Securities held outright1

4,194,913

+    7,838

+  727,253

U.S. Treasury securities

2,448,625

+    2,053

+  386,621

Bills2

         0

         0

         0

Notes and bonds, nominal2

2,333,867

+    2,064

+  372,402

Notes and bonds, inflation-indexed2

    98,188

         0

+   10,979

Inflation compensation3

    16,570

-       11

+    3,240

Federal agency debt securities2

    40,006

         0

-   23,646

Mortgage-backed securities4

1,706,282

+    5,785

+  364,278

Unamortized premiums on securities held outright5

   209,711

+       17

+    5,628

Unamortized discounts on securities held outright5

   -18,705

-        5

-   11,783

Repurchase agreements6

         0

         0

         0

Loans

       331

+       14

+       63

Net portfolio holdings of Maiden Lane LLC7

     1,664

         0

+      171

Net portfolio holdings of Maiden Lane II LLC8

         0

         0

-       64

Net portfolio holdings of Maiden Lane III LLC8

         0

         0

-       22

Net portfolio holdings of TALF LLC9

        44

         0

-       68

Items in process of collection

(0)

        79

-        5

-       14

Bank premises

     2,260

+        1

-       30

Central bank liquidity swaps10

        23

-       52

-      240

Foreign currency denominated assets11

    22,500

-      290

-    1,622

Other assets12

    28,060

+    1,945

+    5,826

Total assets

(0)

4,459,050

+    9,462

+  725,032

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


6. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Sep 24, 2014

Change since

Wednesday

Wednesday

Sep 17, 2014

Sep 25, 2013

Liabilities

Federal Reserve notes, net of F.R. Bank holdings

1,245,118

+      159

+   82,316

Reverse repurchase agreements13

   261,724

+    9,500

+  158,554

Deposits

(0)

2,888,956

+      157

+  485,969

Term deposits held by depository institutions

         0

         0

-   11,662

Other deposits held by depository institutions

2,707,185

-   44,723

+  400,172

U.S. Treasury, General Account

   118,905

-    5,060

+   72,888

Foreign official

     5,243

-        1

-    3,634

Other14

(0)

    57,623

+   49,941

+   28,205

Deferred availability cash items

(0)

       652

         0

-       33

Other liabilities and accrued dividends15

     6,232

-      375

-    3,259

Total liabilities

(0)

4,402,681

+    9,440

+  723,545

Capital accounts

Capital paid in

    28,185

+       12

+      744

Surplus

    28,185

+       12

+      744

Other capital accounts

         0

         0

         0

Total capital

    56,370

+       23

+    1,488

Note: Components may not sum to totals because of rounding.

1.

Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2.

Face value of the securities.

3.

Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4.

Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5.

Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized.  For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis.  For mortgage-backed securities, amortization is on an effective-interest basis.

6.

Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7.

Refer to table 4 and the note on consolidation accompanying table 7.

8.

Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Refer to the note on consolidation accompanying table 7.

9.

Refer to table 5 and the note on consolidation accompanying table 7.

10.

Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to
the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign
central bank.

11.

Revalued daily at current foreign currency exchange rates.

12.

Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

13.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

14.

Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.

15.

Includes the liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5 and the note on consolidation accompanying table 7. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury.


7. Statement of Condition of Each Federal Reserve Bank, September 24, 2014

Millions of dollars

Assets, liabilities, and capital

Total

Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas

Dallas

San

City

Francisco

Assets

Gold certificate account

    11,037

       352

     4,125

       338

       464

       824

     1,349

       706

       278

       173

       291

       880

     1,257

Special drawing rights certificate acct.

     5,200

       196

     1,818

       210

       237

       412

       654

       424

       150

        90

       153

       282

       574

Coin

     1,935

        34

        95

       123

       123

       319

       225

       275

        23

        46

       152

       183

       336

Securities, unamortized premiums and discounts, repurchase agreements,
and loans

4,386,250

    88,719

2,691,949

   105,073

    95,761

   245,132

   242,484

   179,273

    54,163

    27,023

    57,793

   133,658

   465,221

Securities held outright1

4,194,913

    84,856

2,574,685

   100,497

    91,590

   234,457

   231,892

   171,452

    51,741

    25,708

    55,257

   127,820

   444,959

U.S. Treasury securities

2,448,625

    49,531

1,502,877

    58,662

    53,462

   136,855

   135,359

   100,079

    30,202

    15,006

    32,254

    74,610

   259,728

Bills2

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Notes and bonds3

2,448,625

    49,531

1,502,877

    58,662

    53,462

   136,855

   135,359

   100,079

    30,202

    15,006

    32,254

    74,610

   259,728

Federal agency debt securities2

    40,006

       809

    24,554

       958

       873

     2,236

     2,212

     1,635

       493

       245

       527

     1,219

     4,243

Mortgage-backed securities4

1,706,282

    34,515

1,047,254

    40,877

    37,254

    95,365

    94,322

    69,738

    21,046

    10,457

    22,476

    51,991

   180,987

Unamortized premiums on securities held outright5

   209,711

     4,242

   128,713

     5,024

     4,579

    11,721

    11,593

     8,571

     2,587

     1,285

     2,762

     6,390

    22,244

Unamortized discounts on securities held outright5

   -18,705

      -378

   -11,481

      -448

      -408

    -1,045

    -1,034

      -765

      -231

      -115

      -246

      -570

    -1,984

Repurchase agreements6

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Loans

       331

         0

        32

         0

         1

         0

        33

        15

        65

       145

        20

        18

         3

Net portfolio holdings of Maiden

Lane LLC7

     1,664

         0

     1,664

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Maiden

Lane II LLC8

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Maiden

Lane III LLC8

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF LLC9

        44

         0

        44

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Items in process of collection

        79

         0

         0

         0

         0

         0

        78

         0

         0

         0

         0

         0

         0

Bank premises

     2,260

       120

       437

        74

       110

       222

       209

       199

       124

        97

       243

       224

       200

Central bank liquidity swaps10

        23

         1

         7

         2

         2

         5

         1

         1

         0

         0

         0

         0

         3

Foreign currency denominated

assets11

    22,500

     1,023

     7,238

     1,691

     1,789

     4,691

     1,293

       621

       189

        95

       237

       376

     3,255

Other assets12

    28,060

       602

    16,892

       673

       614

     1,734

     1,531

     1,135

       395

       239

       392

       951

     2,902

Interdistrict settlement account

         0

+   16,782

+   27,623

+    2,841

+    1,323

-   41,754

+    1,221

-   15,672

-   11,362

-    3,091

-    2,995

+    1,676

+   23,408

Total assets

4,459,050

   107,830

2,751,891

   111,025

   100,422

   211,584

   249,047

   166,963

    43,960

    24,673

    56,266

   138,232

   497,157

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


7. Statement of Condition of Each Federal Reserve Bank, September 24, 2014 (continued)

Millions of dollars

Assets, liabilities, and capital

Total

Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas

Dallas

San

City

Francisco

Liabilities

Federal Reserve notes outstanding

1,444,434

    44,600

   486,754

    43,204

    65,722

   103,296

   213,672

    94,784

    38,060

    21,002

    36,645

   116,378

   180,316

Less: Notes held by F.R. Banks

   199,316

     5,704

    64,845

     6,332

     9,380

    11,634

    22,034

    11,510

     5,003

     4,132

     5,381

    24,171

    29,190

Federal Reserve notes, net

1,245,118

    38,896

   421,909

    36,872

    56,342

    91,662

   191,638

    83,274

    33,057

    16,871

    31,264

    92,206

   151,126

Reverse repurchase agreements13

   261,724

     5,294

   160,636

     6,270

     5,714

    14,628

    14,468

    10,697

     3,228

     1,604

     3,448

     7,975

    27,761

Deposits

2,888,956

    60,875

2,148,220

    63,449

    33,689

    93,129

    38,752

    71,100

     7,005

     5,667

    20,815

    36,834

   309,422

Term deposits held by depository institutions

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other deposits held by depository institutions

2,707,185

    60,868

1,966,658

    63,410

    33,685

    93,001

    38,743

    71,093

     7,005

     5,666

    20,813

    36,830

   309,413

U.S. Treasury, General Account

   118,905

         0

   118,905

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     5,243

         2

     5,216

         3

         3

         8

         2

         1

         0

         0

         0

         1

         6

Other14

    57,623

         5

    57,441

        37

         0

       119

         7

         6

         0

         0

         1

         3

         3

Deferred availability cash items

       652

         0

         0

         0

         0

         0

       488

         0

         0

       165

         0

         0

         0

Interest on Federal Reserve notes due
to U.S. Treasury15

     1,681

        25

     1,134

        26

        19

        49

        86

        67

        23

         9

        26

        54

       163

Other liabilities and accrued
dividends16

     4,551

       177

     1,606

       221

       217

       570

       385

       297

       142

       122

       125

       214

       476

Total liabilities

4,402,681

   105,267

2,733,505

   106,838

    95,981

   200,037

   245,816

   165,434

    43,455

    24,438

    55,678

   137,283

   488,948

Capital

Capital paid in

    28,185

     1,282

     9,193

     2,093

     2,220

     5,774

     1,615

       764

       252

       118

       294

       474

     4,105

Surplus

    28,185

     1,282

     9,193

     2,093

     2,220

     5,774

     1,615

       764

       252

       118

       294

       474

     4,105

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

4,459,050

   107,830

2,751,891

   111,025

   100,422

   211,584

   249,047

   166,963

    43,960

    24,673

    56,266

   138,232

   497,157

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


7. Statement of Condition of Each Federal Reserve Bank, September 24, 2014 (continued)

1.

Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2.

Face value of the securities.

3.

Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.

4.

Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5.

Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized.  For U.S. Treasury and Federal agency debt securities, amortization is on a straight-line basis.  For mortgage-backed securities, amortization is on an effective-interest basis.

6.

Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7.

Refer to table 4 and the note on consolidation below.

8.

Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Refer to the note on consolidation below.

9.

Refer to table 5 and the note on consolidation below.

10.

Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate
equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

11.

Revalued daily at current foreign currency exchange rates.

12.

Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

13.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

14.

Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, and designated financial market utilities.

15.

Represents the estimated weekly remittances to U.S. Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.

16.

Includes the liabilities of TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of this LLC. Refer to table 5 and the note on consolidation below.

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On June 14, 2012, the remaining outstanding balance of the senior loan from FRBNY to Maiden Lane LLC was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC was repaid in full, with interest. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. had written credit default swap contracts. On June 14, 2012, the loan from FRBNY to Maiden Lane III was repaid in full, with interest. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On March 1, 2012, the loan from FRBNY to Maiden Lane II was repaid in full, with interest. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility. On January 15, 2013 the FRBNY's commitment to extend credit to TALF LLC was eliminated.

The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 6), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 6).

8. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts

Millions of dollars

Federal Reserve notes and collateral

Wednesday

Sep 24, 2014

Federal Reserve notes outstanding

1,444,434

Less: Notes held by F.R. Banks not subject to collateralization

   199,316

Federal Reserve notes to be collateralized

1,245,118

Collateral held against Federal Reserve notes

1,245,118

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2

1,228,881

Other assets pledged

         0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2

4,194,913

Less: Face value of securities under reverse repurchase agreements

   252,814

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged

3,942,100

Note: Components may not sum to totals because of rounding.

1.

Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.

2.

Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.


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